On 16th November, 2017, State Grid Chairman Shu Yinbiao met with IPTO ChairmanManousakis Manousos and CEO of Banco Santander, José Antonio Álvarez respectively. They exchanged ideas on deepening cooperation in energy and innovation and jointly promoting the transition to clean energy and the building of grid interconnection to serve the development of the “Belt and Road” Initiative. 
        In the morning, Shu Yinbiao met with the delegation led by Manousakis Manousos and listened to his report on the operation of IPTO and the development of key grid interconnection projects. Shu Yinbiao expressed his recognition of the work done by the executives of IPTO and introduced the latest development of State Grid. According to Shu Yinbiao, State Grid attaches great importance to IPTO project. After the delivery of the project, the two sides have been strictly observing the rules of the Shareholders’ Agreement to carry out friendly negotiations and has realized steady and sound operation. For the next step, State Grid is willing to make joint efforts with IPTO to deepen bilateral cooperation in energy under the principle of achieving shared growth through innovation and collaboration and make full use of the advantage in technology, management and capital to play a more positive role in the development, operation and management of power grid in Greece, support the development of IPTO and the building of Crete power grid interconnection. In this way, the two sides can make concerted efforts to promote the efficient, green, low-carbon and sound development of power grid in Greece with positive influence on the local society and the economy.

        The delegation led by Manousakis Manousos visited the National Center for Power Dispatch and Control and congratulated State Grid on its achievements in UHV, smart grid and renewable energy. Manousakis Manousos pointed out that the cooperation between the two sides in IPTO project went smoothly, significantly driving local social and economic development. China and Greece are both ancient civilizations with rich culture and long history of people-to-people exchange. As industrial leaders with global competitiveness, IPTO and State Grid established a friendly relation featuring mutual understanding, trust and respect. It is expected that the two sides could continue to strengthen technological cooperation and communication to jointly promote the innovative development of the energy sector in Greece.

        In the afternoon, Shu Yinbiao met with the delegation led by José Antonio Álvarez and expressed his recognition of the support and help from Banco Santander for the international business and operation of State Grid. According to Shu Yinbiao, State Grid is committed to be a long-term and stable industrial investor in the international market that sticks to the principle of sustainable development and localized operation to create comprehensive social, economic and environmental value for the local community. Banco Santander provides professional service to State grid in finance and M&A consulting in key markets such as Europe and Brazil, which greatly helped the global development of State Grid. Currently, China is vigorously promoting the development of the “belt and Road” Initiative. Power grid is a key area in “Belt and Road” infrastructure connectivity that could drive the development of the whole region. In the future, it is hoped that the two sides could further deepen cooperation around the development of the “Belt and Road” Initiative for mutually-beneficial and win-win cooperation. The two sides can jointly expand the energy market in Europe and South America to promote the transition to clean energy and grid connectivity.

        José Antonio Álvarez expressed his appreciation for the achievement of State Grid. He said that State Grid has world-leading power transmission and distribution technologies with outstanding achievements in UHV, smart grid, renewable energy and the fulfillment of social responsibilities. Currently, with the rapid development of renewable energy and the transition and upgrade of the energy sector, power infrastructure construction and connectivity development has huge potential. Banco Santander will continue to seek for investment opportunities and quality projects in energy and provide more support for the international business of State Grid for win-win cooperation.

        IPTO Vice Chairman and Chief Technical, Market and Strategy Officer Margaris Ioannis and Member of Board of Directors and Chief Operation, Infrastructure and Development Officer Kampouris Ioannis and related people in charge of Banco Santander, Asia Pacific attended the meeting. State Grid Vice Chief Engineer and Director of the Department of International Relation, Zhu Guangchao and people in charge of State Grid Department of Finance, Department of International Cooperation, State Grid International Development Co., Ltd and the senior executives team in IPTO also attended the meeting.

        Source: State Grid Department of International Cooperation, State Grid News